ENTREPRENEURSHIP

Detailed explanation-1: -Wholesalers include the middlemen between manufacturers, producers, and retailers. The retailers themselves are the middlemen between wholesalers and the end customers.

Detailed explanation-2: -A middleman is a broker, go-between, or intermediary to a process or transaction. An intermediary will earn a fee or commission in return for services rendered in matching buyers and sellers.

Detailed explanation-3: -Types of Middlemen Wholesalers buy goods in bulk and sell them to the retailers in large quantities. Retailers and brokers acquire the goods from the wholesalers and sell them in small quantities to the consumers. Consumers may also choose to bypass the intermediaries and buy goods directly from the producers.

Detailed explanation-4: -The three principal types of agent middlemen are manufacturers’ agents, selling agents, and purchasing agents.